Abstract

A key insight of dependency theorists such as Vania Bambirra and Ruy Mauro Marini was that dependency is not confined to an international relations phenomenon of unequal exchange, but plays out at the level of class relations in the periphery. While emphasising that financialization has exacerbated global uneven development, much of the peripheral financialization literature has disregarded the contributions of dependency theory, whose main object of discussion has precisely evolved around the uneven but combined nature of global capitalist development. Contributing to the pluralization and decolonization of IPE, we revisit dependency theory to analyse peripheral financialization and its political and social impact in Latin America. Drawing on case studies of Brazil and Mexico, we engage with the agency of Latin American ‘dominated-dominant’ ruling classes in reconstructing dependency under financialized conditions. In both cases, power has shifted towards the financial and export-oriented fractions of ruling classes, while financialization has reproduced the key characteristic of dependent capitalism – the super-exploitation of labour. The article updates earlier periodizations of dependency and maps financialized dependence as a new phase of dependency, entailing substantial changes in the role of the state and class relations.

摘要

瓦尼亚·班比拉 (Vania Bambirra) 和鲁伊·毛罗·马里尼 (Ruy Mauro Marini) 等依附理论家的一个重要见解是，依附并不局限于不平等交换的国际关系现象，而是在外围的阶级关系层面上发挥作用。在强调金融化加剧了全球不平衡发展的同时，许多外围金融化文献忽视了依附理论的贡献，其主要讨论对象恰恰围绕全球资本主义发展的不平衡但综合的性质展开。为了促进 IPE 的多元化和非殖民化，我们重新审视依附理论，以分析外围金融化及其在拉丁美洲的政治和社会影响。借鉴巴西和墨西哥的案例研究，我们与拉丁美洲“受支配-支配”的统治阶级的代理机构合作，在金融化条件下重建依赖。在这两种情况下，权力都转向了统治阶级的金融和出口导向型部分，而金融化则再现了依赖资本主义的关键特征——对劳动力的过度剥削。这篇文章更新了早期的依赖周期，并将金融化依赖映射为一个新的依赖阶段，导致国家角色和阶级关系发生重大变化。